Important update on the blocked amount increase for non-EU citizens coming to Germany!
German authorities have announced to increase the BAföG rate once more from €861.00 to €931.00. The BAföG rate is the national standard that defines the absolute minimum of expenses that a student needs to cover for a comfortable living in Germany. This news is of great importance for international students who want to study in Germany, as the required blocked amount for a student visa application is pegged to the BAföG rate.
Consequently, this means that as of the fall semester of 2022/2023, international students will be required to block a total amount of € 11,172.00 per year for their stay in Germany instead of the current amount of € 10,332.00.
The monthly amount was already increased from € 853.00 to € 861.00 for the winter semester of 2020, which means that the annual sum has already risen from € 10,236.00 to € 10,332.00. However, due to the global political and economic situation, inflation and thus the costs for e.g. accommodation, electricity and food have continued to rise. So too here in Germany. For this reason, the German government has decided to increase the minimum monthly amount students need to maintain their standard of living. This has had a corresponding impact on the amount of money international students must demonstrate to ensure that they can afford a stay in the Federal Republic of Germany.
We advise all students that have their visa appointments planned for autumn 2022* to pay extra attention to this change and check the website of your local German embassy or of the foreign office regularly.
Please note that so far, these changes have not been officially approved and communicated. However, we are in close contact with the Foreign Office in Berlin, which expects official confirmation of the adjustments within the next few weeks. As soon as we receive new information, we will update this article.
Here are some frequently asked questions about the blocked amount increase:
* When exactly will the changes come into effect?
The changes are expected to take place in the winter semester of 2022/2023, but the exact date of the amount adjustment has not yet been determined. As soon as the precise date has been communicated, we will update this article.
My visa appointment is before autumn 2022. Do I need to increase my blocked amount?
You may still only have to block a monthly amount of € 861.00 if you submit your application or receive your visa before the effective date of the changes (the exact date is not yet determined). However, we always recommend that in case of doubts you enquire directly with your visa-processing authority, as only they can give you binding information on the required blocked amount for your visa application.
My appointment is in autumn/the embassy asked me to increase the blocked amount. How do I do that?
If you already have a blocking confirmation for the lower amount:
Go to your “Blocked Account” card in your Fintiba account. There you can change your blocking agreement as needed under “Change blocking agreement”. You must have a smartphone connected to your account to perform this action. After you have made the change, you can transfer the missing difference and your blocking confirmation will automatically be reissued as soon as the money has arrived in your account.
If you open a new Blocked Account:
In this case, when you open a Fintiba blocked account, you only need to adjust the monthly amount during the account opening process. We will then automatically issue you with a transfer document for a higher amount. As soon as the money arrives in the blocked account, you will automatically receive your blocking confirmation.
Are there additional fees if I need to increase the amount?
No, there are no additional charges from our side as long as you have not received your visa yet. All you need to do is transfer the difference in the amount required and we will issue a new Blocking Confirmation for you.
I already have my blocking confirmation. Can I get a document for my bank that just states the gap amount that I must transfer?
Yes, we’ll provide you with a document that accurately states the missing amount in your account to get a new blocking confirmation for the increased monthly amount. You can download this document from the “Documents” in your Fintiba account and give it to your bank in case they ask for proof to execute the transfer. The calculations are always based on your current blocked account balance, not on your old blocked amount. So, if you have already transferred more money, the remaining transfer amount will be lower.
I still need a blocked account with the new blocked amount. Where can I open it?
You can just open your account via www.fintiba.com or the Fintiba App and get everything you need for your visa for Germany.
We kindly ask you to take care of that topic in advance and keep in mind that it might take some time for clarification in individual cases. You can contact us here.